Personal finance basics for young people

Many young people find themselves living paycheck to paycheck after they move out of their parents’ house. But did you know that having some basic financial skills and spending a little time on financial planning can have a big impact on your personal finances?

Young people’s financial skills

When you’re young, you may have low and irregular income. This is a familiar situation for young adults who are studying, working various odd jobs, unemployed or taking a gap year. And money may still be tight even if you have a permanent job because your salary is usually smaller at the beginning of your career. 

Read our tips on how you can make ends meet on a limited income. Do you know how you can save money or when to take out a loan? 

How far does your money stretch?

Are you unsure of what you can afford? See our best tips for young adults becoming independent.

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How to take care of your finances

Paying your bills in time and avoiding payday loans are the best ways of taking care of your finances.

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Glossaries of loan and savings terms

Listed in our glossaries are the definitions of some basic terms that will help you understand the most common loan and investment alternatives. Our glossaries will also give you more insight into various terms related to interest rates and loan repayment as well as savings. 

Glossary of loan terms   

Glossary of savings terms